The stockbroker defense in § 546(e) of the Bankruptcy Code creates a safe harbor for recipients of certain types of transfers and can bar fraudulent transfer claims brought by a trustee. In Picard v. Katz , this was a $1 billion issue, and one... Read More
NEW YORK - (Mealey's) Investors on Nov. 6 asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were... Read More
Judge Jed S. Rakoff this week denied the request of Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC ("BLMIS") , to pursue an immediate appeal of Judge Rakoff's recent decision to dismiss most of the counts set forth... Read More
The Wall Street Journal's Bankruptcy Beat blog yesterday featured a conversation with bankruptcy attorney Kathy Bazoian Phelps of Danning, Gill, Diamond & Kollitz, LLP, co-author of the The Ponzi Book: A Legal Resource for Unraveling Ponzi... Read More
NEW YORK - (Mealey's) The owners of Major League Baseball's New York Mets and the liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) agreed on March 19 to a $162 million settlement of claims relating to the defendants'... Read More
Judge Burton Lifland , the bankruptcy judge overseeing the liquidation proceedings of Bernard L. Madoff Investment Securities LLC ("BLMIS") made a shrewd decision last week in appointing, on his own initiative, former Governor Mario Cuomo... Read More
by Kathy Bazoian Phelps Irving Picard, the trustee in the SIPA bankruptcy proceeding of Bernard L. Madoff Investment Securities, LLC, has asked the Second Circuit Court of Appeals to overturn two decisions from the Southern District of New York... Read More
A Madoff bankruptcy trustee secures an approximately $1 billion judgment against a feeder fund, and, the 5th Circuit affirms a boat owner took reasonable precautions in preparing for Hurricane Katrina. Hear these and other stories from LexisNexis®... Read More
Two months from now will bring the five year anniversary of the unraveling of Bernie Madoff’s Ponzi scheme, one of the bookends, along with the collapse of Lehman Brothers ., of the extraordinary Fall of 2008 . To date, Trustee Irving Picard has... Read More
Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securites ("BLMIS") , has filed an amended complaint (the "Amended Complaint") that seeks to buttress his allegations against Fred Wilpon and... Read More